MANILA: The Pantawid Pamilyang Pilipino Program (4Ps) beneficiaries will soon become low-cost social insurance policyholders when they become members of the Social Security System (SSS). The Department of Social Welfare and Development (DSWD) and the SSS will sign a memorandum of agreement (MOA) for this purpose on Monday. 'The DSWD is fortunate to collaborate with the state-run SSS. This partnership with SSS will extend social security coverage to our 4Ps beneficiaries, providing them with safety nets from income loss, sickness, and other financial burden,' DSWD Assistant Secretary and spokesperson Irene Dumlao said in a media release on Sunday. To be known as the "4Ps AlkanSSSya Program," the DSWD and the SSS shall establish a contribution subsidy table specific for the 4Ps organized group, upon SSS's determination based on actuarial study and the actual capacity of the beneficiaries to pay the minimum amount of PHP570.00 per month. The SSS monthly premium will be shouldered by the beneficiaries. The 4 Ps beneficiaries who are members of workers' associations, informal sector groups and Sustainable Livelihood Program Associations will also be covered by the partnership. Under the agreement, the SSS will assist the DSWD in the registration and processing of applications of all eligible beneficiaries. Both agencies are tasked by the MOA to conduct seminars and orientation activities for the 4Ps organized groups. 'It is necessary that our 4Ps beneficiaries are educated on the importance and benefits of SSS membership and savings. This also contributes to our financial literacy efforts among our beneficiaries,' Dumlao said. Earlier, 4Ps national program manager Director Gemma Gabuya said insurance is integral to the DSWD's Social Welfare and Development Indicator framework. 'Before graduating from 4Ps, it is crucial for beneficiaries to have security or insurance,' Gabuya said. The initiative is part of the DSWD's commitment to ensure the financial security and sustainability of 4Ps beneficiaries as they transition out of the program, she added. The 4Ps, one of the DSWD's flagship programs, is a national poverty reduction strategy institutionalized under Republic Act 11310 on April 17, 2019. The 4Ps puts a premium on giving poor and vulnerable families the means to break away from the intergenerational cycle of poverty through human capital investments. As of May 31, there are 4.3 million household-beneficiaries nationwide that are receiving conditional cash grants under the program. Source: Philippines News agency